Vertice, the London-based spend optimisation platform, today announced €47.9 million in Series C funding, fueling the opening of new regional offices and tripling its engineering team.
The funding round was led by pan-European VC firm Lakestar, bringing the total raised to over €95.9 million. Additional participants include Perpetual Growth and CF Private Equity, alongside existing investors Bessemer Venture Partners and 83North.
“We created our own unfair advantage,” commented Roy Tuvey, Co-founder and CEO at Vertice. “After spending two years perfecting our SaaS and cloud spend optimization, achieving product-market fit and taking market share from established players, we’ve brought all of our data and insights directly into the workflow experience. All employees can now initiate any purchase, quickly, transparently and at the best price, while procurement can fully customize the workflows to their needs and embed granular approvals.”
Founded in 2021 by Eldar Tuvey and Roy Tuvey, Vertice is a spend optimisation platform enabling businesses to simplify their procurement workflows, gain granular control and visibility of their spend, and realise cost savings of as much as 30%. Vertice manages €3.2 billion in spend worldwide for hundreds of enterprise customers in over 30 countries and is headquartered in London with additional offices in New York, Sydney, Brno and Johannesburg.
This oversubscribed round is the latest milestone in Vertice’s growth journey, scaling its worldwide revenue and customer base whilst looking to maintain best in class capital efficiency. The company has grown revenue 13x over the past 2 years.
The Series C investment will further accelerate Vertice’s mission to create the go-to unified backbone for modern procurement teams. In 2025, Vertice will open several new regional offices and drive product development by tripling its engineering team. New automated product capabilities and integrations will help enterprise procurement and finance teams improve visibility, streamline processes, reduce costs, and make better decisions.
According to Vertice, procurement teams struggle every day with opaque approval processes, rising prices, compliance threats and a lack of clarity over best pricing. The market’s current response is disparate and disconnected point solutions, including procurement workflow builders, contract negotiation, benchmarking data and SaaS spend optimisation.
Vertice aims to deliver all of this within a single, unified platform.
Vertice offers customisable procurement workflows that deliver AI-supported insights into spend optimisation, usage and risk management directly within the workflow itself. These insights are based on Vertice’s negotiation experience across €3.2 billion of SaaS and cloud spend on behalf of hundreds of enterprise customers globally, as well as the unmatched benchmarking data Vertice has on 16,000+ software vendors.
Vertice workflows claim to have consistently more than halved purchasing cycles, curtailed maverick spending, while reducing SaaS and cloud costs by as much as 30%.
Vertice’s proposition has been adopted by the teams at ASML (AMS: ASML), Euronext (EPA: ENX), Grant Thornton, and Santander (BME: SAN). In the last 12 months, Vertice has also grown its enterprise customers in the US, EMEA and APAC – reportedly making it the only spend optimisation platform to have significant presence and customer base in all three regions.
Stephen Day, CPO at Kantar and a member of Vertice’s Advisory Board, commented, “The curse and the blessing of procurement is that it is the only business process that any employee could perform – with or without authorization. Control and visibility of every purchase therefore becomes essential, but it can be painfully difficult when data and intelligence is disparate. Unifying these data sources and processes into a single platform that is built with the stakeholder experience in mind, as much as for procurement leaders, solves so many challenges – and is a huge opportunity for Vertice.”
Georgia Watson, Partner at Lakestar, said “Vertice has consistently demonstrated its ability to execute, innovate, and drive key growth metrics year after year, all at scale. We firmly believe there is no organization better positioned to become the unified platform of choice for the modern procurement team.”
Read the orginal article: https://www.eu-startups.com/2025/01/vertice-raises-e47-9-million-to-advance-its-spend-optimisation-platform-and-open-new-offices/
